Alpha Cognition Reports Q4 Earnings, Highlights Continued ZUNVEYL Growth

Biopharmaceutical company sees accelerating adoption of Alzheimer's treatment in long-term care facilities

Mar. 29, 2026 at 10:22am

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Alpha Cognition (NASDAQ:ACOG) executives reported continued sales growth and accelerating adoption of ZUNVEYL, the company's oral treatment for mild to moderate Alzheimer's disease, following its commercial launch. Management emphasized early demand indicators in the long-term care channel, progress on payer access through additional pharmacy benefit manager (PBM) contracting, and a slate of real-world studies planned for 2026 to support positioning with providers and payers.

Why it matters

Alpha Cognition's success with ZUNVEYL is crucial for the company as it aims to establish a foothold in the lucrative Alzheimer's treatment market. The drug's performance in long-term care facilities, where symptom management and tolerability are key factors, will be a key indicator of its broader commercial potential.

The details

CEO Michael McFadden said Q4 represented the company's 'third full quarter' after ZUNVEYL's launch, with demand, measured as bottles dispensed, growing 62% quarter over quarter. The company also highlighted repeat ordering behavior, with 82% of the 729 long-term care homes that placed orders in Q4 being repeat customers. On the prescriber side, Alpha Cognition recorded 3,681 total healthcare provider calls, including nearly 2,000 prescriber calls, with about 865 prescribers writing orders during the quarter, 69% of whom were repeat writers.

  • In Q4 2025, Alpha Cognition executed a second national PBM contract, bringing the company to agreements with two of the four major PBMs relevant to its long-term care business.
  • The company expects to begin seeing early traction in Q2 2026 with broader implementation in Q3 2026 as contracted PBM status translates to practical plan-level access with fewer restrictions and a smoother prior authorization process.
  • Alpha Cognition plans to initiate a comparative pharmacokinetic (PK) study versus its tablet and intranasal formulations for a sublingual formulation in Q2 2026.

The players

Michael McFadden

Chief Executive Officer of Alpha Cognition.

Lauren D'Angelo

Chief Operating Officer of Alpha Cognition.

Henry Du

Interim Chief Financial Officer of Alpha Cognition.

Alpha Cognition, Inc.

A clinical stage biopharmaceutical company that develops treatments for underserved neurodegenerative diseases such as Alzheimer's Dementia and Amyotrophic Lateral Sclerosis, founded in 2000 and headquartered in Vancouver, Canada.

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What they’re saying

“The feedback the company has heard from customers regarding the product's impact on behaviors 'was just overwhelming,' and that this helped expand attention to psychiatry prescribers in long-term care settings who treat behavioral symptoms.”

— Lauren D'Angelo, Chief Operating Officer

“We expect to begin seeing early traction in Q2 2026 with broader implementation in Q3 2026 as contracted PBM status translates to practical plan-level access with fewer restrictions and a smoother prior authorization process.”

— Lauren D'Angelo, Chief Operating Officer

What’s next

Alpha Cognition plans to initiate three real-world studies in 2026, including CONVERGE, a long-term care data analysis, and BEACON, a study to generate a long-term care dataset in approximately 200 nursing home patients. The company also plans to initiate a comparative pharmacokinetic (PK) study versus its tablet and intranasal formulations for a sublingual formulation in Q2 2026.

The takeaway

Alpha Cognition's strong performance in the long-term care channel, progress on payer access, and planned real-world studies suggest the company is well-positioned to drive continued growth and adoption of its Alzheimer's treatment ZUNVEYL. The development of a sublingual formulation could also expand the drug's reach by addressing swallowing difficulties in the long-term care population.